Laserfiche WebLink
BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF SAN MARCOS: <br />ARTICLE I <br />DEFINITIONS AND OTHER PRELIMINARY MATTERS <br />Section 1.01. Definitions. <br />Unless otherwise expressly provided or unless the context clearly requires otherwise, in this <br />Ordinance the following terms shall have the meanings specified below: <br />"Bond" means any of the Bonds. <br />"Bonds" means the City's bonds entitled "City of San Marcos, Texas, General Obligation <br />Bonds, Series 2008" authorized to be issued by Section 3.01. <br />"Closing Date" means the date of the initial delivery of and payment for the Bonds. <br />"Code" means the Internal Revenue Code of 1986, as amended, including applicable <br />regulations, published rulings and court decisions relating thereto. <br />"Defeasance Securities" means (i) Federal Securities, (ii) noncallable obligations of an agency <br />or instrumentality of the United States of America, including obligations that are unconditionally <br />guaranteed or insured by the agency or instrumentality and that, on the date the City Council adopts <br />or approves proceedings authorizing the issuance of refunding bonds or otherwise provide for the <br />funding of an escrow to effect the defeasance of the Certificates are rated as to investment quality by <br />a nationally recognized investment rating firm not less than "AAA" or its equivalent, and (iii) <br />noncallable obligations of a state or an agency or a county, municipality, or other political subdivision <br />of a state that have been refunded and that, on the date the City Council adopts or approves <br />proceedings authorizing the issuance of refunding bonds or otherwise provide for the funding of an <br />escrow to effect the defeasance of the Certificates, are rated as to investment quality by a nationally <br />recognized investment rating firm no less than "AAA" or its equivalent. <br />"Designated Payment/Transfer Office" means (i) with respect to the initial Paying <br />Agent/Registrar named herein, its designated office in Houston, Texas, and (ii) with respect to any <br />successor Paying Agent/Registrar, the office of such successor designated and located as may be <br />agreed upon by the City and such successor. <br />"DTC" means The Depository Trust Company of New York, New York, or any successor <br />securities depository. <br />"DTC Participant" means any broker, dealer, bank, trust company, clearing corporation or <br />certain other organizations with Bonds credited to an account maintained on its behalf by DTC. <br />San Mazcos GO 2008 Ordinance 2 <br />